2024 Global Genome Sequencing Market Report: Key Drivers, Size, and Leading Segments
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What Growth Rate is Predicted for the Genome Sequencing Market for 2024-2033?
The genome sequencing market will grow from $8.33 billion in 2023 to $9.89 billion in 2024 at a CAGR of 18.7%, attributed to increased research funding, personalized medicine awareness, genomic data rise, clinical application expansion, and biomarker discovery demand.
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What Drivers Are Enhancing the genome sequencing Market’s Growth?
The rising incidence of cancer is expected to stimulate the growth of the genome sequencing market. Cancer rates are rising due to aging populations, lifestyle factors, and environmental exposures. Genome sequencing helps identify genetic mutations linked to cancer and aids in early detection and personalized treatment. According to the World Health Organization in February 2024, new cancer cases are projected to exceed 35 million by 2050, a 77% increase from 2022, driving the growth of the genome sequencing market.
What Segments Are Central to the Genome Sequencing Market?
1) By Product: Consumables, Systems And Software, Services
2) By Technology: Polymerase Chain Reaction (PCR1), Sequencing, Microarray, Nucleic Acid Extraction, Purification, Other Technologies
3) By Applications: Diagnostics, Drug Discovery, Precision Medicine, Environmental Genomics, Research, Other Applications
4) By End-User: Hospitals And Clinics, Biotechnology And Pharmaceutical Companies, Contract Research Organizations (CROs1), Government, Research Centers, Academic And Government Institutes, Other End-Users
What Emerging Trends Are Influencing 223 Industry Dynamics?
Leading companies in the genome sequencing market are advancing solutions like next-generation sequencing (NGS)-based assays to improve genetic analysis accuracy and enable personalized medicine. In April 2023, Centogene launched CentoGenome, an NGS-based assay designed to offer lifelong diagnostic support and improve sequencing quality. This tool uses a PCR-free approach to reduce bias and enhances genomic region coverage, improving disease management by utilizing extensive patient data from around 700,000 individuals worldwide.
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Which Geographic Locations Are Critical to the Growth of the Genome Sequencing Market?
North America was the largest region in the genome sequencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genome sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Genome Sequencing Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the genome sequencing market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Genome Sequencing Market Include
1. Genome Sequencing Market Executive Summary
2. Genome Sequencing Market Segments
3. Genome Sequencing Market Size And Template Market Growth Rate
4. Key Genome Sequencing Market Trends
5. Major Genome Sequencing Market Drivers
……
25. Key Mergers And Acquisitions In The Genome Sequencing Market
26. Top Genome Sequencing Companies
27. Genome Sequencing Market Opportunities And Strategies
28. Genome Sequencing Market, Conclusions And Recommendations
29. Appendix
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